OPEC+ Gets Scant Relief From Vaccine as Oil Ministers Meet
- Alliance eyes delaying supply boost by three to six months
- Oil demand takes hit from new lockdowns while vaccine awaited
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Oil markets may be cheering the prospects of a coronavirus vaccine, but OPEC+ can’t celebrate.
Crude prices have rallied to a 10-week high on hopes that Pfizer Inc. and BioNTech SE’s breakthrough could soon revive the flights, car journeys and other economic activity that underpin fuel consumption.